Some Reflections On Flexicurity-The European Approach To Labour Market Policy

The notion of 'flexicurity' promises to overcome the tensions between the labour market flexibility on the one hand and social security on the other hand, by offering 'the best of both worlds' . In this review the development of the concept will be set against the background of changed economic circumstances in the last two decades. Flexicurity is seen as a way to preserve the European Social Model while maintaining and improving the competitiveness of the European Union. It is argued that, in the context of globalisation and technological change which place greater demands on business to adapt continuously, high levels of employment security will not depend only on protection of workers'(tm) specific job, but mainly on the means for workers to stay on the job market, manage smooth transitions between jobs and make progress in their careers. At the end of the day, the aim of flexicurity policies should be to ensure the welfare and well-being of our societies and all their members, now and in the future. It can therefore be argued that flexicurity is ultimately about security and sustainability. At the same time, the European ideas and principles on flexicurity first and foremost need to be seen as a framework which may offer inspiration and guidance to Member States to review and improve their labour markets in terms of establishing a sound balance between flexibility and security. Member States can and should come up with their tailor-made policies and regulations that are geared towards their specific history, starting-position and political, institutional and cultural context. As quasi prototypes of flexicurity, policies pursued particularly in Denmark and the Netherlands have been portrayed as having successfully achieved new combinations between (greater) labour market flexibility without compromising social protection. At this point in time, it remains to be seen whether flexicurity will be more than a buzzword which has outlived its temporary political purpose or an enduring component of particularly European approach of combining employment and social policies. The current paper is realized in the doctoral programme entitled 'PhD in economics at the standards of European knowledge-DoEsEc' , scientific coordinator Prof. PhD. Gabriela Dragan, institution the Academy of Economic Studies Bucharest, Faculty of International Business and Economics, period of research 2009-2012.